Investment-Based Long-Term Residence in Indonesia: Obtain a 10-Year Residency Permit
The Indonesian government has announced a new investment program, the Indonesia Golden Visa, on August 30, 2023, offering long-term residency of up to ten years. This program is designed to attract foreign investors and remote workers to the country, which has become a popular destination for vacationers and digital nomads.
The Indonesia Golden Visa application process can be done entirely online, making it convenient for applicants from all over the world. To qualify for a five-year residency, individual investors must invest at least $2.5 million USD or 38 billion IDR, or allocate at least $350,000 USD or 5.3 billion IDR in government bonds, stocks, or hold funds in a local savings account. For a ten-year residency, the investment requirement is at least $5 million USD or 76 billion IDR, or $700,000 USD or 10.6 billion IDR in government bonds, stocks, or local savings, or the purchase of real estate worth $1 million USD. Corporations or directors and commissioners must invest at least $25 million USD or 380 billion IDR for a five-year residency, and at least $50 million USD or 760 billion IDR for a ten-year residency.
The Indonesia Golden Visa offers extended residency, family inclusion, multiple entry allowance, and potential ROI for investors. Applicants can include their family members on their applications, and holders of the visa will get to bypass the ITAS (Temporary Stay Permit) process at the immigration office when they return to Indonesia. The documents required for the application include a copy of passport, colored passport photos, proof of funds, declaration of qualifying investment, and proof of relationship to dependents (if applicable).
It is recommended to consider working with an immigration lawyer to apply for the Indonesia Golden Visa. Once you complete the visa application, you must pay the visa fee and use the official website to start your application. The documents may be submitted in English. The approval process for the Indonesia Golden Visa may take three to four months.
The Indonesia Golden Visa has already granted its first visa to Sam Altman, the CEO of OpenAI, showcasing the program's potential to attract high-profile investors. Other countries offering similar Golden Visa programs include Portugal, Italy, Malta, the UAE (Dubai), Latvia, Hungary, and Serbia, with various investment options such as real estate purchases or business investments; some programs also provide access to the Schengen Area and potential citizenship after meeting certain requirements.
Indonesia aims to attract new foreign investments in exchange for long-term residency, making the Indonesia Golden Visa an attractive option for those looking to invest in a growing economy while enjoying the benefits of extended stay in a beautiful and vibrant country.
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